What do the high-tech industry, the biomed sector and Israel all have in common? A lot actually, which is why both high-tech and biomed are having a major influence on Israel and the Israeli economy.
With more high-tech startups than any other country in the world, Israel has quickly become a major breeding ground for innovation. And, with medical advances on the rise, Israel is making huge strides in the biomed field as well.
The Israeli high-tech boom
If you didn’t already know, high-tech is a huge deal in Israel. With thousands of high-tech startups located all across the country, Israel might as well be considered as the “Second Silicon Valley”. Google’s Chairman, Eric Schmidt, even mentioned that “Israel has the most important high-tech center in the world after the U.S.”
The mix of cultures and endless talent are the driving factors behind Israel’s growing high-tech sector. New emerging technologies are constantly being created in Israel and many have already had a major impact on society. Furthermore, Israel is home to seven top-notch research universities, some which have been ranked among the top 50 academic institutions in the world for chemistry, computer-science, math, natural sciences and engineering.
Well-known Israeli high-tech startups and companies that have already had a major impact on the tech sector include:
- Waze – A popular GPS-based navigation system which can be accessed through smartphones. Waze provides drivers with detailed directions from point A to B, traffic reports, travel times and even alerts drivers when there are road hazards. Waze was developed by the Israeli startup, Waze Mobile and was acquired by Google in 2013.
- Babylon – A software which serves as a computer dictionary and translation program. This tool is being used worldwide for translation and conversion of currencies, measurements and time. Babylon was established in 1997 by an Israeli entrepreneur and its IPO took place in 2007.
- Check Point – A worldwide provider of software and combined hardware and software products for IT security. CheckPoint was established in Ramat Gan, Israel in 1993 and began acquiring other IT companies during the first decade of the 21st century.
Biomed a big deal in Israel
In 2012, Israel raised over half a billion dollars in biomed financing alone. Now, just two years later, Israel has become one of the world’s leading countries for the development of medical devices. According to a life sciences article from Israel’s Ministry of Economy, Israel is home to over 1,000 life science companies and 40 new companies are being formed on a yearly basis. This shouldn’t come as a surprise though – Israeli medical devices are starting to pop-up all over the world.
In 2011, the U.S. accounted for $600 million of Israeli medical device exports, with exports in Europe ranging around $400 million. Some well-known examples of Israeli-made medical devices/medicines include:
- PillCam – A pill-sized camera which can easily be swallowed in order for doctors to view the inside of their patient’s GI tracts. This technology was developed by Israeli company, Given Imaging.
- Doxil – A prescription chemotherapy drug used to treat ovarian cancer. This revolutionary medicine was developed at Israeli based Hadassah Medical Center and sold to Johnson & Johnson.
- Copaxone – An injection developed by the leading Israeli pharmaceutical company Teva to help with the treatment of Multiple Sclerosis and Parkinson’s disease.
High-tech meets biomed
With the abundance of high-tech and life science advances being made in Israel, it only makes sense to hold a 3-day long tech and biomed conference in Tel Aviv. The MIXiii Israel Innovation Conference will be taking place during May 20th-22nd, serving as the first conference where tech and biomed will be featured within the same venue.
Some of the most innovative Israeli startups will be presenting at MIXiii. If you are planning to attend MIXiii, be sure to check out:
- SQream Technologies – SQream Technologies is an Israeli high-tech startup specializing in Big Data and GPU technology. SQream’s revolutionary GPU based analytics engine provides biomedical researchers with an advanced system to store and analyze more data much faster in a cost-effective manner.
- BiopMedical – BiopMedical has developed a technology used to identify cancerous and precancerous cells in epithelium tissues. BiopMedical’s advanced technology aims to improve the screening of cervical cancer.
- MediSafe – MediSafe has developed an IOS and Android mobile application and cloud-synced database which provides a medical treatment program for patients. With MediSafe, a patients medical treatment regime can be connected with their friends and family members, allowing others to help support and engage in a patients medical regime.
The emergence of new technologies within the high-tech and biomed field have made Israel an international leader in innovation. With the continued support of the Israeli government and a mix of cultures contributing ideas from across the globe, Israel will only continue to advance in the creation of cutting-edge technologies.